Nigerian inventory market analysts said that this week’s buying and selling periods might stay tentative, with buyers prioritising revenue‑taking and strategic capital reallocation to align portfolios with fiscal‑yr targets.
The market capitalisation of listed equities declined by N2.83 trillion to N94.998 trillion final week because the market prolonged its bearish momentum with profit-taking sentiments dominating buying and selling amid a mix of home and exterior headwinds.
Wanting forward, Cowry Asset Administration Restricted said that, “the market is prone to stay cautious as buyers proceed profit-taking and reallocate capital consistent with fiscal-year issues.
“Though near-term volatility might persist, the spectacular YTD good points recommend that underlying fundamentals stay comparatively robust. Market path within the coming weeks will probably be influenced by macroeconomic indicators, significantly inflation, alternate price stability, company earnings updates, and liquidity flows from each native and international buyers. Nevertheless, buyers are anticipated to keep up a selective method, tilting towards essentially sound and defensive shares able to weathering short-term market swings.”
Afrinvest Restricted stated, “This week, we count on the market dynamics to stay bearish, pushed by weak investor sentiment throughout main bellwethers.”
Buying and selling opened in November with a bearish onslaught, because the NGX All-Share Index (ASI) fell by 2.99 per cent week-on-week to shut at 149,524.81 factors, reflecting sustained promoting strain as buyers adjusted portfolios in response to geopolitical tensions surrounding the US-Nigeria diplomatic faceoff, year-end portfolio rebalancing, and expectations of window-dressing actions by institutional gamers.
Equally, the market capitalisation of listed equities declined by N2.83 trillion to N94.998 trillion.
Market breadth remained closely skewed to the bears, with 20 gainers in opposition to 75 losers, indicating widespread promote strain throughout sectors. NCR Nigeria led the gainers desk by 20.94 per cent to shut at N19.35 per share. Eunisell Interlinked adopted with a achieve of 20.17 per cent to shut at N70.90, whereas Union Dicon Salt went up by 9.93 per cent to shut at N7.75 per share.
On the opposite aspect, Sovereign Belief Insurance coverage led the decliners desk by 28.21 per cent to shut at N2.80 per share. C&I Leasing adopted with a lack of 20.16 per cent to shut at N5.03, whereas Skyway Aviation Dealing with Firm declined by 18.99 per cent to shut at N80.60 per share.
General, a complete of three.575 billion shares value N107.011 billion in 146,429 offers have been traded by buyers on the Trade’s ground final week, in comparison with a complete of seven.479 billion shares valued at N145.429 billion that exchanged palms the earlier week in 159,487 offers.
The Monetary Companies Trade (measured by quantity) led the exercise chart with 2.946 billion shares valued at N65.904 billion traded in 62,817 offers; contributing 82.39 per cent and 61.59 per cent to the overall fairness turnover quantity and worth, respectively. The Companies Trade adopted with 147.325 million shares value N1.511 billion in 7,656 offers, whereas the Client Items Trade traded a turnover of 147.307 million shares value N11.195 billion in 18,644 offers.
